Business leaders across the Asia Pacific region report a split in optimism heading into 2017. Accounting firm Grant Thornton’s most recent quarterly global survey of 2,600 businesses in 37 economies, says that emerging and developed Asia Pacific economies are travelling in different directions when it comes to their outlook for the new year. Globally, the research finds that the majority of business leaders start 2017 in a positive frame of mind.

Grant Thornton International Business Report (IBR)said that business optimism among Asia Pacific developed economies has fallen 8 percent points in Q4 2016 to net -16%. Japan in particular has fallen 8pp to -45%.

The research meanwhile said business optimism among emerging Asia Pacific economies, increased by 11 percent points to 53%. The research said China, has seen optimism bounce back from 30% to 46% in Q4 2016.

Globally, business optimism at the end of Q4 2016 stands at net 38%. This is an increase of 5pp from Q3 and the highest level since Q3 2015.